JPMorgan Upgrades Novartis to “Overweight” (NVS)
JPMorgan reported on Friday that it has upgraded healthcare product giant, Novartis AG (NVS).
The firm has increased its rating for the company from “Neutral” to “Overweight.”
An analyst from the firm commented, “we upgrade Novartis to overweight from Neutral with a new 18 month price target of Sfr 78 assuming the stock can approach a sector multiple by mid 2014 which reflects FCF growth beyond 2019 of just below 1%.”
Novartis shares were up 56 cents, or 0.81% during Friday morning trading. The stock has increased 28% in the past year.
The Bottom Line
Shares of Novartis AG (NVS) have a 3.64% yield, based on Friday morning’s price of $69.57.
Novartis AG (NVS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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